A senior Fund official stated that the Sovereign Fund of Egypt (TSFE) has positioned itself as a trusted partner to reassure investors seeking to participate in green economy initiatives in the country.

Karim Badr, CEO of TSFE’s Infrastructure & Utilities Sub-Fund, stated that the Fund would prioritize renewable energy, water desalination, green hydrogen, and storage and warehousing projects.

Badr stated at the Portfolio Egypt 2022 conference that TSFE intends to collaborate and construct 3 million cubic metres per day of desalination capacity as part of the government’s aim to diversify fresh water supplies through desalination facilities driven by renewable energy.

In order to place Egypt on the map of energy exporting nations, the Fund has set a goal of developing 1.5 million tonnes of green hydrogen production capacity by 2030.

Badr stated that TSFE will supply investors with low-cost financing mechanisms.